USD/INR could revisit the psychological hurdle of 75.00. Sellers failed to keep the pair below 74.30 on Tuesday. USD/INR formed a classic bullish hammer on Tuesday, which occurs when an asset reverses intraday losses and ends the day with gains. The pair found bids below 74.30 on Tuesday and closed 0.12% higher on the day at 74.71. The bullish hammer shows that sellers came into the market, pushing the spot lower, but by the close, the selling pressure had been absorbed and losses were reversed. As such, it indicates the potential for a strong move on the higher side. The immediate resistance is seen at 74.83 – the resistance of the trendline connecting June 16 and July 14 highs. A violation there would expose the psychological hurdle of 75.00. The outlook would turn bullish if the sellers manage to establish a strong foothold below 74.20. This is because the 10-pip range of 74.20 to 74.30 acted as a strong support zone in the previous two weeks and on Tuesday. Daily chart Trend: Bullish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY Price Analysis: Sellers target 104.50 inside two-month-old falling channel FX Street 3 years USD/INR could revisit the psychological hurdle of 75.00. Sellers failed to keep the pair below 74.30 on Tuesday. USD/INR formed a classic bullish hammer on Tuesday, which occurs when an asset reverses intraday losses and ends the day with gains. The pair found bids below 74.30 on Tuesday and closed 0.12% higher on the day at 74.71. The bullish hammer shows that sellers came into the market, pushing the spot lower, but by the close, the selling pressure had been absorbed and losses were reversed. As such, it indicates the potential for a strong move on the higher side. The… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
